Mainstreet | 12.7.22 Market Report on Canadian Markets

Join the Mainstreet Global Council virtually as we get an update on Canadian markets from the Manitoba Association of Real Estate, while we give their members our market report. Enjoy this meet-and-greet opportunity with members of this Association and learn about real estate opportunities within this region of the world. You will have the opportunity to share your contact info, and network after when we break out into small groups.

For Mainstreet members who are attending the NAR Conference in November, you will also have an opportunity to meet many members of this association at our joint reception together on Friday, November 11th from 5 - 7 p.m.

 

Date & Time

Wednesday, December 7, 2022
10:00 AM - 11:45 AM CST

Format: Live Stream

Price: Free

Register

Source: Mainstreet | 12.7.22 Market Report on Canadian Markets

https://www.creconsult.net/market-trends/mainstreet-12-7-22-market-report-on-canadian-markets/

Mainstreet | 1.13.23 Commercial Economic Outlook Breakfast

Date & Time:
Friday, January 13, 2023
09:30 AM - 11:30 AM CST

Location:
Lorena's Banquet
543 W. Lake St.
Addison IL 60101
View Map

Format In-Person

Price: $35 Member $45 Non-Member

Register

Dr. Chan received his BBA in Finance & Investments from Baruch College in 1979. In 1983, Anthony received his M.A. in Economics followed by his Ph.D. in Economics in May 1986 from the University of Maryland. In addition, Anthony also spent time at the Board of Governors of the Federal Reserve in Washington, DC as a Doctoral fellow from 1985 to 1986. Upon graduating, he became an Economics Professor at the University of Dayton from 1986 to 1989 and successfully published many academic articles. Next, he joined the Federal Reserve Bank of New York as an Economist from 1989 to 1991. Anthony also joined Barclays de Zoete Wedd Government Securities, a Government Securities Primary Dealer, from 1991 to 1994 as a Senior Economist.

Anthony joined JPMorgan in1994 and retired in 2019. During his tenure, Anthony addressed over one hundred thousand clients each year and delivered presentations to many Central Banks around the world, including China’s PBOC, the Bank of Korea, and almost every Central Bank in Latin America. Currently, Anthony also spends a great deal of his time traveling around the world (e.g., to Asia, Europe, and Latin America) and in the United States delivering Client Presentations that focus on the Global Economy/Global Financial markets. Anthony is also a member of the prestigious Blue-Chip Monthly Forecasting panel. In addition, he served on the Economic Advisory Committee of the American Bankers Association from 2001-2002. One of his most important responsibilities of this ABA group was to brief Alan Greenspan and the rest of the board members in Washington, DC twice a year in an off the record session.

Anthony has also been quoted in media outlets such as The Wall Street Journal, Barron’s, The New York Times, The Washington Post, The Chicago Tribune, The Los Angeles Times, and Investor’s Business Daily. He has made over 650 live TV appearances in media outlets such as CNBC, CNN International, Fox Business News and CGTN, Chinese Television.

Deeper Personal Background
From Public Housing to Banking Royalty
Turning Adversity into Impact

Dr. Anthony Chan spent a quarter of a century as chief global economist for JPMorgan Chase, driving imperative dialogue around world markets and their impact on consumers and global communities. He’s fluent in the needs of different cultures and geographies; able to tailor his talks to industries, sectors, and convenings that are looking for insight and inspiration from someone who built their career from the ground up.

While Anthony retired at the top of his game, he didn’t get there through luck or leverage. His story is one of sheer grit. Born in New York City, to a Puerto Rican mother and Chinese father, his parents were blue collar; the former a maid, the latter a waiter at a Chinese restaurant. Their drug infested neighborhood tested Anthony but the powerful work ethic instilled by his parents kept him focused, dodging the perils of drugs and other risky behaviors. He worked the fryer at a local KFC which left him with scars on his arms from hoisting lard in and out of the scalding hot french fry machines - scars that, mistaken for track marks, earned him street cred and a wide berth from menacing neighborhood youth.

Sadly, Anthony’s dad died of a brain aneurysm when Anthony was in elementary school; an event that rocked his mom and caused her to dissuade Anthony from pursuing higher education and a demanding career for fear he would meet the same demise. She wanted him to stay the course: stick to his working class roots and help keep the family afloat. Anthony wanted more out of life. After becoming intrigued by a segment about economics on tv, so he told his mom he was going out partying but he snuck off to the New York Public Library to learn more about his new found passion. He studied courses on his own since no one - not his mom or his teachers - would support him in his quest to be and do better. He was told he was a half breed and that kids like him would never make it into the higher levels of society.

Anthony went on to become the first person in his family to receive his high school diploma and his bachelor’s degree, all on public assistance. Let that sink in.

He would go on to get his master’s degree and then his PhD. His thirst for knowledge is boundless; his desire to engage and move the world forward unstoppable. And now, in the next chapter of his life, Anthony is putting his vast experience to work for your audience: sharing insights, information, and inspiration that will accelerate innovative thinking and results for organizations and the communities they serve.

Dr. Anthony Chan was Managing Director, Chief Global Economist at JPMorgan Chase & Co. (1994-2019) in New York City. He earned his B.B.A. in Finance and Investments degree from Baruch College in 1979, and his master's (1983) and doctorate (1986) from the University of Maryland. He has worked as a professor at the University of Dayton, and was an Economist at the Federal Reserve Bank and at Barclays. From 1985 to 1986, Chan was a Doctoral fellow at the Board of Governors of the Federal Reserve in Washington, D.C. Anthony also serves as the Treasurer of the Skyhook Foundation.

 

 

Source: Mainstreet | 1.13.23 Commercial Economic Outlook Breakfast

https://www.creconsult.net/market-trends/mainstreet-1-13-23-commercial-economic-outlook-breakfast/

2023 State of The Commercial Real Estate Industry

2023 State of The Commercial Real Estate Industry

Join eXp Commercial President James Huang and Economist KC Conway on January 17 for a fireside chat as they discuss the state of the 2023 economy and how you can prepare your business for success in the changing market.

Date: January 17, 2023
Time: 9 a.m. PT / Noon ET
Location: eXp World > eXp Commercial Auditorium

[button text="Register Now" expand="true" link="https://share.hsforms.com/1J66iDYvTTHStNTtZ5bOP4w470ju" target="_blank"] https://www.creconsult.net/market-trends/auto-draft/

Why Should I Sell My Multifamily Property?

Why should I Sell My Multifamily Property?

There are a number of reasons why people decide to sell their multifamily property, but most can be categorized into three groups: Problems, Opportunities, and Changes.

With this decision though comes the consideration of capital gains tax and how to ensure you are getting the most for the sale of your property.

There are several reasons why people do sell:

Problems:             

• Management
• Vacancy
• Maintenance
• Stress
• Health
• Debt
• Neighborhood
• Interest Rates

Opportunities: 

• Strong Market Values
• Alternate Investment
• End of the Hold Period
• Tax Savings

Changes:               

• Divorce
• Death
• Retirement
• Partnership Split
• Relocation
• Consolidation
• Diversification

What do I do with the sales proceeds? I don't want to pay Capital Gains Tax!

There are several options for sellers to defer or minimize capital gains taxes:

• 1031 Exchange
• Delaware Statutory Trust/Deferred Sales Trust  (DST)
• Tenancy in Common Investment (TIC)
• Installment Sale

How do I know I am getting the most money for my property?

We not only market properties for sale. We make a market for properties we represent. Each offering is thoroughly underwritten, aggressively priced, and accompanied by loan quotes to expedite the sales process. We leverage our broad national marketing platform syndicating to the top CRE Listing Sites with direct outreach to our investor database and an orchestrated competitive bidding process that yields higher sales prices. 

What is my property worth?

Contact Us to discuss what information is needed to complete a Complimentary Commercial Broker Opinion of Value (BOV). 

I’m not interested in selling at this time.

This is understandable as only about 5% of the market trades in any given year. We are also happy discuss any purchase or refinance interests and recommend some physical and operational changes you can make to add value to your property you will appreciate when you eventually sell.  

 

Author:
Randolph Taylor MBA, CCIM
(630) 474-6441
rtaylor@creconsult.net

Randolph Taylor MBA, CCIM is a Multifamily Investment Sales Broker in the National Multifamily Division with eXp Commercial. Randolph focuses on the Listing and Sale of Multifamily Properties in the Greater Chicago area and Suburbs. Randolph has over 24 years of Commercial Real Estate experience including Corporate Real Estate, Asset Management, and Commercial Real Estate Brokerage. Randolph’s broad knowledge of the Commercial Real Estate Industry, financial analysis, marketing, and negotiating skills uniquely position him to provide a superior level of service to his clients.

https://www.creconsult.net/market-trends/why-should-i-sell-my-multifamily-property/

eXp Commercial Offering Free Training & Certification

Training and education are core offerings at eXp Realty® and eXp Commercial® is adding to the goodness by offering several opportunities for all agents — whether you’re with eXp Realty or not — to take part in commercial real estate training during the week of Dec. 6-10.

Free, 3-Day Course to Get Trained and Certified in Commercial Real Estate

The training program, “An Introduction to Commercial Real Estate,” is a full, three-day program being held Dec. 6-8 and will be facilitated by Michael Simpson of the National Commercial Real Estate Association (NCREA). It’s free and will be held virtually in the eXp Commercial Campus (download directions here).

> Register now for this FREE training

“There has always been a lack of education and training when it comes to commercial real estate,” said Stephanie Gilezan, Director of eXp Commercial Brokerage Operations. “Pre-licensing and continuing education barely touch on commercial real estate. With the lack of training, it has always been difficult for commercial agents and brokers to be successful in the commercial real estate space. At eXp Commercial, we want to put education and training at the forefront so all licensees have the training necessary to know the business but to also be successful in their commercial real estate career.”

Monday-Wednesday Dec. 6-8: “An Introduction to Commercial Real Estate”

• What: “An Introduction to Commercial Real Estate” training program
• When: Monday through Wednesday, Dec. 6-8 starting at 7 a.m. PT each day
• Where: eXp Commercial Campus Auditorium. (Download here.) For non-eXp agents, upon registration, information will be provided on how to access the eXp Commercial Campus.
• Who can attend: Licensed real estate agents who are interested in learning more about commercial real estate
• Cost: Free! (a $600 value)
• Agenda: See the curriculum here (All times are PT)
• Certification: Agents who attend classes Monday through Wednesday, Dec. 6-8 and do the homework and pass the test will be awarded a certificate verifying this accomplishment.

Getting insight and training into commercial real estate is not easily accessible and it can be costly. This 3-day course is estimated to be valued at $600, but eXp Commercial is offering it for free. eXp is committed to educating all agents in residential real estate, as well as commercial. This class is ideal for residential real estate agents who want to learn more about commercial real estate and add another tool to their arsenal. Don’t miss this free opportunity!

Thursday, Dec. 9: Commercial Real Estate Symposium

For more advanced commercial real estate agents, eXp Commercial is hosting the Commercial Real Estate Symposium on Thursday, Dec. 9, 2021, in the virtual eXp Commercial Campus. Hear from the industry’s top leaders, national economists and thriving entrepreneurs on the future of commercial real estate.

The Commercial Real Estate Symposium is open to commercial real estate licensees and will feature networking opportunities, breakout sessions, and giveaways.

KC Conway, the principal, and founder of Red Shoe Economics will be the main speaker and will address the future of commercial real estate from an economist’s perspective.

There will also be panels featuring leaders from the Society of Industrial and Office Realtors® (SIOR), Certified Commercial Investment Member (CCIM), and the Institute of Real Estate Management (IREM) on topics such as where the commercial real estate opportunities are, adaptive reuse, and why inclusion is important for the industry.

Friday, Dec. 10: Additional Networking

To offer an opportunity for additional networking, Friday, Dec. 10 will be a day for people to visit the eXp Commercial Expo Hall and network. This is a casual event to provide additional time for attendees to learn more about training and eXp Commercial.

Interested in a Career in Commercial Real Estate?

eXp Commercial is one of the fastest-growing real estate brokerages in the world, with a presence in 11 countries: the United States, Brazil, Australia, Canada, France, India, Mexico, Portugal, South Africa, Puerto Rico, and the United Kingdom.

With over 83K Commercial and Residential Agents around the world all connected and collaborating through eXp World  – a virtual platform created by eXp’s Virbela technologies, eXp Commercial experts help their clients get the best out of their investments by providing commercial real estate buying, selling and leasing services across all asset types and specialties. 

Join eXp Commercial

 

 

https://www.creconsult.net/market-trends/exp-commercial-offering-free-training-certification/

Explaining the Breakdown of One Dollar of Rent

With so much discussion around rent payments and the prevailing misconception that rental housing owners enjoy large margins, the National Apartment Association (NAA) has released an explanation of the breakdown of one dollar of rent for 2022.

Because education is an effective way to counter harmful public policy and negative industry stereotypes, NAA offers this explanatory infographic breaking down a dollar of rent into its component parts.

The apartment industry must help society understand the benefits of rent payments for all Americans, whether or not they reside in rental housing.

From supporting 17.5 million jobs to the dollars reinvested into apartment communities to ensure quality living for more than 40 million residents, and through paying property taxes that finance schools, emergency services and other local needs to investor returns that include public pensions and 401(k)s, rent payment is much more important than one might otherwise realize.

 

Source: Explaining the Breakdown of One Dollar of Rent | National Apartment Association

https://www.creconsult.net/market-trends/explaining-the-breakdown-of-one-dollar-of-rent-national-apartment-association/

10 Common Themes Amongst Apartment REITs In 3Q22

10 Common Themes Amongst Apartment REITs In 3Q22

As fall earnings season comes to a close, we take a look at the 10 themes apartment REITs and REIT analysts discussed. From economic pressures to resident retention, here are the themes that illustrate how apartment performance has changed, including a few refreshed themes from the fall 2021 earnings season, and what it means as we head into 2023.

1. New and renewal lease rent growth is beginning to invert. As we head into the slower winter leasing season, new lease rent change has moderated considerably (as is consistent with RealPage Market Analytics data) while renewal lease rent change has continued to increase leading to lower loss to lease heading into 2023

2. Resident retention remains elevated. As leasing traffic has cooled and we return to more normal seasonal patterns, more residents are choosing to renew their leases, bolstering back-end occupancy and allowing for stronger rent rolls heading into the slow winter leasing season.

3. Move-outs to home purchases are down year-over-year. The Fed’s interest rate increases have pushed 30-year mortgage rates above 7%. Consequently, would-be first-time home buyers have pivoted, keeping many in the renter pool and bolstering resident retention rates.

4. Concessions are back… sort of. Overall concession value of about 2-4 weeks of free rent has remained fairly consistent throughout 2022. However, REIT executives reported strategic use of concessions to move certain unit types, compete with nearby lease-up properties, or as a marketing tool to boost front-end leasing.

5. Resident incomes are up. REIT executives, echoing our own data and analysis, confirm that their resident incomes are up, and despite increasing rents, that rent-to-income ratio remains very healthy in the low 20% range. This is well below the long-held 33% affordability threshold and illustrates that market-rate renters are keeping pace with market-rate rent increases.

6. Resident payments remain healthy. Resident payments and rental collections maintain strength. REITs are not seeing an increase in bad debt or delinquency while working through their backlogs and COVID relief money from the beginning of the pandemic.

7. No signs of recoupling… yet. With resident incomes keeping pace with rent increases, REIT executives have not yet noticed any signs of a “flight to affordability” via recoupling or doubling up. REIT executives will certainly keep a keen eye on any movement, but nothing has materialized on this front yet.

8. Expenses are up across the board. REITs noted that the largest expense item – property taxes – remains elevated heading into 2023. Large increases in utilities due to energy prices have emerged as inflationary pressure keeps maintenance, labor, and material costs stubbornly high. All said REITs anticipate elevated expenses to persist into 2023.

9. Cap rates are expanding. How much and to what degree is hard to tell as regional variations and slowing transaction volume have clouded the overall picture. Many REITs have slowed their own activity, pausing acquisition and disposition plans to take a wait-and-see approach, while the Fed continues its plans to fight inflation via prolonged interest rate hikes.

10. Slowing development starts in 2023. With uncertainty in the capital markets environment, many REITs are slowing or pausing their development pipelines in 2023, as development yields clash in a tug-of-war situation with cap rates and rising interest rates. The staggering volume of units under construction across the U.S. – over 900,000 at the end of 3rd quarter of 2022 – has likely peaked for the near term.

 

Source: 10 Common Themes Amongst Apartment REITs In 3Q22

https://www.creconsult.net/market-trends/10-common-themes-amongst-apartment-reits-in-3q22/